Vince Martin, Lead Analyst and Writer at Overlooked Alpha, discusses the "Game of Thrones" style proxy fight happening at CUTR (I also wrote CUTR up here). ***This podcast is brought to you by Stream by AlphaSense
- 2nd to the market (Cutera is months ahead so the 1st to market wins?)
- different approach to sales (<CUTR>: less upfront for dermatologists, more recurring revenues; <ELN>: dermatologists have to pay more upfront buying the console and charging a consumable (albeit less costly than AviClear)
... but it is traded at 1.3 times EV to sales while <CUTR> is at 2.3
... seems quite similar to El.En's product:
CUTR US_Cutera, Inc. - March 24, 2022 - https://www.accessdata.fda.gov/cdrh_docs/pdf21/K213461.pdf
"The AviClear Laser System is indicated for the treatment of mild to severe inflammatory acne vulgaris."
ELN IM_El.En. S.p.A. - November 17, 2022 - https://www.accessdata.fda.gov/cdrh_docs/pdf22/K222109.pdf
"The Accure Laser System is indicated for the treatment of mild to severe inflammatory acne vulgaris."
https://elengroup.com/uploads/presentazioni/El.En._Starconference_22.03.23.pdf
pages 27-30 ... similar improvements in acne reduction
<ELN> is an "under-the-radar", "owner-operated" Italian listed company (Cynosure was controlled by El.En)
+ much better managed
+ financially more solid
+ Rox Anderson, the inventor of "Cryolipolysis" (process used by the Zeltiq products mentioned by Vince Martin in your last post) is mentioned here:
https://elengroup.com/uploads/comunicati_stampa/El.En_pressrelease_22.11.22.pdf
- 2nd to the market (Cutera is months ahead so the 1st to market wins?)
- different approach to sales (<CUTR>: less upfront for dermatologists, more recurring revenues; <ELN>: dermatologists have to pay more upfront buying the console and charging a consumable (albeit less costly than AviClear)
... but it is traded at 1.3 times EV to sales while <CUTR> is at 2.3